Govt's excise collections on petrol, diesel jumps 88% to Rs 3.35 lakh crore

The central government's tax collections on petrol and diesel jumped to Rs 3.35 lakh crore in FY21 after excise duty was sharply hiked in 2020.

The union government's tax collections on petrol and diesel jumped by 88 per cent to Rs 3.35 lakh crore in the year to March 31, after excise duty was raised to a record high, the Lok Sabha was informed on Monday. Excise duty on petrol was hiked from Rs 19.98 per litre to Rs 32.9 last year to recoup gains arising from international oil prices plunging to a multi-year low as the pandemic gulped demand. The same on diesel was raised to Rs 31.8 from Rs 15.83 a litre, according to a written reply to a question given by the Minister of State for Petroleum and Natural Gas Rameswar Teli in the Lok Sabha.